First time car buyer. Vehicle finance

P

p3rox1d3

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Hi all.

So I enquired about a car I'm interested in (after seeing it online) over the phone, and agreed with the salesman that I'd view it this coming Saturday. However he insisted that I fill out a vehicle finance application in the mean time to see if I'll qualify for it.

Is this advisable? What happens if I don't like the car? If I go to another dealership will I have to re-fill a finance application?
 
Probably wants to fast track it and sell you the car before the end of this month or maybe he thinks you'll "waste hus time"...or something.

Anyway, fill out financing stuff when you made your decision.
 
p3rox1d3 said:
Hi all.

So I enquired about a car I'm interested in (after seeing it online) over the phone, and agreed with the salesman that I'd view it this coming Saturday. However he insisted that I fill out a vehicle finance application in the mean time to see if I'll qualify for it.

Is this advisable? What happens if I don't like the car? If I go to another dealership will I have to re-fill a finance application?
Click to expand...

Strangest thing I've heard. Just tell him you are considering paying cash and view the car.
 
It seemed strange. And it's a very reputable dealer.
How long does it typically take for a finance application to be processed? I know they usually apply to all the major banks for you
 
Depends on how hard they fight for you to get a lower interest rate. The actual application doesn't take long.
 
He is saving everyone time, and effort.

9 out of 10 applications get declined so you might just be another one.

The other issue is if you wanted to test drive the vehicle, at least he would know if there is a good chance you'd buy the vehicle, because again,you'd be wasting his time if you were declined post test drive.

Sign the doc already if you're serious ...
 
I don't think it's a big deal but I wouldn't. Psychologically just makes it easier for them to put pressure on you to sign.
"hey you've already filled out everything, just put your X here and it's done. C'mon, we've already been through all this effort."
It's a big decision and I know I buckle under peer pressure so I'd minimise any sort of attachment or anything like that to could sway my decision.
 
Once you fill in the forms and the banks make offers, half the salesman's job is done.
Next he is gonna pressure you to sign: "you can leave with the car now, just sign the offer"

If it is the first car you going to view, dont complete nothing.
Look at 10 cars first before you to even touch an application form.

It is better to wait 2/3 extra days for the processing than to regret your buy
 
p3rox1d3 said:
How long does it typically take for a finance application to be processed?
Click to expand...

You should get a reply from the bank within an hour or two. If they're being particularly slow, maybe overnight. I went in to the dealership once on a Saturday morning, and drove out before they closed at 1, and the finance and insurance was all done by them in that time.
 
Caldo said:
Once you fill in the forms and the banks make offers, half the salesman's job is done.
Next he is gonna pressure you to sign: "you can leave with the car now, just sign the offer"

If it is the first car you going to view, dont complete nothing.
Look at 10 cars first before you to even touch an application form.

It is better to wait 2/3 extra days for the processing than to regret your buy
Click to expand...

Also, you'll get a call from insurance companies like Outsurance. Transunion sends them alerts with your number if you apply for car finance :mad:
 
Hamster said:
Also, you'll get a call from insurance companies like Outsurance. Transunion sends them alerts with your number if you apply for car finance :mad:
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So whats the problem with that ? As long as its companies like Outsurance making the calls, you might strike it lucky ( if you're smart that is ) with a good package.
 
The_Traveller said:
So whats the problem with that ? As long as its companies like Outsurance making the calls, you might strike it lucky ( if you're smart that is ) with a good package.
Click to expand...

The fact that my phone number gets shared with them is the fscking problem. And that's the one company you know about, what about the rest?
 
Hamster said:
The fact that my phone number gets shared with them is the fscking problem. And that's the one company you know about, what about the rest?
Click to expand...
Yeah its annoying , but the reality of the matter is its being done, and theres nothing we can do about it, just swear the mofo who's making the call.
 
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